October 27, 1921

## A. HAMMER'S CONCESSION

According to the terms of the contract, the Soviet government had the right to repurchase the concession after 6 months from the date of notification to the company. The conditions for repurchase — payment of the value of gross output for the preceding year. After 10 years, the repurchase conditions were even more favorable. (Regarding these conditions, see *Pravda* No. 247, November 2, 1921. Discussion by L. K. Martens.)

The contract was approved by the Council of Labor and Defense on November 4, 1921. On July 14, 1923, the contract with A. Hammer was renewed. On April 18, 1930, the contract was terminated at the company's initiative due to its financial difficulties.

A second contract for the purchase of one million puds of grain was approved by the Council of Labor and Defense on November 4, 1921.

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**LETTER TO I. I. RADCHENKO**

**October 27, 1921**

Comrade Radchenko!

Comrade Martens has sent me the contract signed by you with the American company (Hammer and Mitchell).

It seems to me that this contract has enormous significance as the beginning of trade.

It is absolutely necessary that you pay the closest attention to the actual fulfillment of our obligations.

I am convinced that without the most rigorous supervision nothing whatsoever will get done. Take measures of triple precaution and verification of execution.

Report to me on: whom you are appointing as the responsible executor; what goods you are preparing; whether you are especially focusing on artistic and Gokhran goods; etc.

Send me reports 2–3 times a month: what has been delivered to port.

Pr. Council of People's Commissars, V. Ulyanov (Lenin)

P.S. Arrival in Petrograd December 25? Not too late?

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¹ A report by L. K. Martens on the contract with Hammer for the purchase of one million puds of grain was presented to the Council of Labor and Defense on November 4, 1921. The Council approved the contract concluded by the People's Commissariat of Foreign Trade with the Hammer company on October 27, 1921. Subsequently...